To better address the needs of the market and more accurately capture the time a listing is actively marketed in Bright, we made the following changes in the way DOM/CDOM is calculated in Bright.
These changes are now available. Historical listings are being updated with an expected completion by the end of the week.
DOM will start at “1” on the date the listing is entered in Bright as Active status. Regardless of the Listing Start Date, Days on Market will be at 1 on the day the listing is published as Active in the system.
DOM/CDOM will now pause for all properties listed in Active Under Contract status. Listings in this status will continue to be sent to consumer websites.
DOM/CDOM will reset when a new listing is added after the previous listing has been in the Withdrawn status for 61 consecutive days. Please note, you will be able to create a new listing on the 61st day from the last withdrawn date as long as no other listings for the same property were previously created.
In order to ensure consistency with statistics and other reports, all current and historical listings will be updated based on these rules. Statistical tools like SmartCharts will also be updated in the coming weeks.
This article is from Bright MLS and reserve all rights.